As more people manage their money on smartphones via artificial intelligence, a robo-advisor solution has been launched for banks and asset managers to customise the offering for their own clients.
Asian based 8 Securities, which claims to be Asia's first robo-advisor, has opened its platform to banks and assets managers, extending its service to what could potentially be millions of new users.
After the successful launch of Chloe, the first robo-advisor app in Hong Kong, 8 Securities is now offering a B2B service to large financial institutions.
The new service allows banks and asset managers to customize 8 Securities' robo-advisor platform for their own customers. The service gives these institutions a highly flexible end to end solution to rapidly launch a robo-advisor in a matter of one to two months.
Mathias Helleu, Executive Chairman, 8 Securities.
The service can be launched in any geography, language and currency and is available through the web or mobile apps including iOS, Android and Windows.
How Does it Work
Potential new customers start by answering a short survey to set goals and a target date to achieve them. Each dollar the customer deposits is intelligently invested into a diversified global portfolio of exchange traded funds.
Chloe monitors and optimizes the investment on a daily basis to help customers stay on track to achieve their financial goals. Chloe becomes more intelligent over time by using machine learning to better predict customers goal and how much they need to save.
Launched in 2012, financial technology firm 8 Securities has licensed offices in Hong Kong and Tokyo. The company introduced the first robo-advisor and $0 Commission HK and US stock trading service in Asia over the past two years.
«Asia is experiencing the largest generational shift of wealth in history. However, most of the region's financial institutions do not have simple and affordable mobile wealth management solution to meet this need,» a company spokesperson said
On a global basis, customers are expected to deposit over USD 2.2 trillion in robo-advisors by 2020.
